Rail Exec Turned Bank Reformer Hosoya Dies

Resona Holdings Inc. Chairman Eiji Hosoya, who brought about changes to Japan’s often-staid banking industry by using his experience to help with the privatization of the sprawling national rail network, passed away at his home on Sunday.

The 67-year-old successfully turned around the lender after the government under the Koizumi administration in 2003 lured him in to run the then troubled bank, which was saddled with hefty bad loans.